Tag: Retail
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Beijing seems to be easing its controls on giants like Alibaba
Alibaba’s sweeping reorganization is seen as a sign that the Chinese government could relax its intense scrutiny of the domestic technology sector. Alibaba founder Jack Ma returned to public engagements, in another welcome sign for investors. China is targeting 5% growth this year, after two years of its economy battered by Beijing’s strict Covid policies […]
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Jeff Gennette, CEO of Macy’s, will retire in early 2024
Jeff Gennette, CEO of Macy’s. Getty Images Macy’s CEO Jeff Gennette will retire early next year after a four-decade career with the company, the department store chain announced Wednesday morning. Gennette, 61, plans to step down in February. He will be succeeded by Tony Spring, CEO of Bloomingdale’s, the company’s higher-end department store brand. In […]
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Dollar General in Settlement Talks Over Security Violations
The exterior of a Dollar General supermarket is seen on March 16, 2023 in Austin, Texas. Brandon Bell | Getty Images Dollar General is in settlement talks with federal regulators after the discount retailer was labeled a “serious violator” of workplace safety rules, an Occupational Safety and Health Administration spokesman said. The spokesman said the […]
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Lululemon shares jump as holiday quarter sales soar
A Lululemon sign is seen at a shopping mall in San Diego, California, November 23, 2022. Mike Blake | Reuters Lululemon reported strong holiday quarter sales on Tuesday, suggesting wealthier shoppers are still buying yoga pants and tops despite rising prices for essential goods. The company also issued optimistic guidance for the new fiscal year. […]
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Walmart sued by EEOC for firing employee with Crohn’s disease
The Walmart logo is displayed outside their store near Bloomsburg. Paul Weaver | Rocket | Getty Images The U.S. Equal Employment Opportunity Commission sued Walmart for firing a North Carolina employee with Crohn’s disease after the retail giant reportedly refused to grant her disability-related leave. The EEOC’s complaint, filed in federal court in Charlotte, accuses […]
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Jack Ma’s life after Alibaba takes him to a fish farm, Fiji and beyond
He was the boss of a tech giant. Now he studies fish and rice. After appearing to fall out of favor with China’s leadership following a 2020 speech criticizing financial regulation, Jack Ma, co-founder of Alibaba Group Holding Ltd. generally kept a low profile. Out of the public eye, the 58-year-old multi-billionaire, who stepped down […]
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Walgreens (WBA) Q2 earnings
A man walks near a Walgreens pharmacy in New York City on March 9, 2023. Leonardo Munoz | Corbis News | Getty Images Walgreens Boots Alliance said on Tuesday that quarterly profits fell more than 20%, due to sharply lower Covid vaccine volumes and test sales compared to last winter, when the surge in the […]
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Alibaba founder Jack Ma returns to China after months abroad
Alibaba founder Jack Ma has been seen in public in China for the first time in months. The return of the billionaire could indicate that Beijing is softening its stance on the tech sector after an 18-month repression. Cost photo | Future publication | Getty Images Ali Baba founder Jack Ma has been spotted in […]
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Chipotle pays workers after closing store that tried to unionize
Chipotle restaurant in Teterboro, New Jersey. SOPA Images | LightRocket | Getty Images Chipotle Mexican Grill has agreed to pay $240,000 to the former employees of an Augusta, Maine, location as part of a settlement for closing the restaurant when workers tried to unionize. Chipotle restaurant employees petitioned in late June to unite under Chipotle […]
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Alibaba co-founder Jack Ma returns to China after a year’s absence
Jack Ma, Alibaba Group Holding Ltd. The billionaire co-founder has returned to mainland China after spending about a year abroad, according to people familiar with the matter. The travels of Mr. Ma have been the subject of intense scrutiny as China’s leadership scrambles to regain entrepreneurial confidence after years of regulatory and pandemic Covid-19 measures […]